The Infrastructure Priority List presents Australia’s key investment opportunities that will further develop over the next 15 years.
The June 2022 update publishes proposals at various stages of development that are not yet fully funded, including 25 new Early-stage proposals (Stage 1), three new Potential investment options (Stage 2) and two new Investment-ready proposals (Stage 3).
This update to the Priority List highlights a need for greater focus on delivering resilient road and rail connections in regional Australia, enhancing the efficiency and connectivity of our transport networks and promoting development in northern Australia.
The Priority List has been developed in collaboration with state and territory governments, industry and the community and draws on our independent research, including the 2021 Australian Infrastructure Plan and 2021 Infrastructure Market Capacity report.
Two new investment-ready proposals
The 2022 Priority List includes two new proposals recommended for Commonwealth investment following developing a solid business case, independently assessed by Infrastructure Australia – Australia-Asia Power Link and Circular Quay Renewal.
Further information on how Infrastructure Australia assesses proposals and develops the Infrastructure Priority List is available here.
Australia-Asia Power Link
Australia-Asia Power Link is a private proposal from Sun Cable, which proposes developing large-scale dispatchable renewable energy in the Northern Territory to provide zero-emission electricity to Darwin and Singapore.
Set to be the largest solar farm, largest battery and most extended subsea electricity cable ever developed globally, the proposal would deliver lower electricity prices for the NT and create a new renewable energy export industry for northern Australia.
Sun Cable continues developing the project by securing environmental approvals, commercial agreements to underpin demand, and final funding arrangements.
Circular Quay Renewal
The NSW Government’s proposed Circular Quay Renewal project seeks to transform one of Australia’s most recognisable and historical places.
The proposal offers substantial community and economic benefits with major transport upgrades, delivery of modern and well-integrated public spaces, and greater recognition for First Nations cultures and history.
The NSW Government and the proposal’s industry partner are continuing to develop the planning and design of the proposal with the view of receiving approval and progressing to delivery in 2025 (subject to State and Australian Government funding approval).
Read the media release here.
Source: Infrastructure Australia
Following a review, the Australian Government has announced the removal of funding for fifty infrastructure projects across the country.
The Australian Government has announced states and territories will have to pay at least half the bill for new infrastructure projects.